Auctioneer reports a record 2005

25 April 2008

Ritchie Bros has reported record results for full year 2005. Gross auction sales for the 12 months ending 31 December 2005 were a record US$2.09 billion, 17% higher than gross auction sales in 2004.

Auction revenues in 2005 were $212.6 million, a 17% increase compared to 2004. Auction revenue rate (auction revenues as a percentage of gross auction sales) was 10.16% in 2005, compared to 10.19% in 2004.

Ritchie Bros held 153 industrial auctions in 11 countries across North America, Europe, the Middle East, Africa, Asia and Australia in 2005, in which 12 regional gross auction sales records were achieved. The February 2005 auction in Orlando, US, was the largest auction in the company's history with gross sales of $79 million.

CEO Peter Blake, said, “Our 2005 results again demonstrated that our unreserved auctions create real value for our customers. It's because of this value that the number of buyers and sellers participating in our auctions continues to increase. With more and more customers choosing to buy and sell at our auctions, we are enjoying tremendous momentum. This not only fuelled our success in 2005, it gives us great confidence as we kick off the 2006 auction season.”

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